Uncertainty Aversion Robust Control And Asset Holdings

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Robustness

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Author : Lars Peter Hansen
Publisher : Princeton University Press
ISBN 13 : 0691170975
Total Pages : 453 pages
Book Rating : 4.6/5 (911 download)

Book Synopsis Robustness by : Lars Peter Hansen

Download or read book Robustness written by Lars Peter Hansen and published by Princeton University Press. This book was released on 2016-06-28 with total page 453 pages. Available in PDF, EPUB and Kindle. Book excerpt: The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking outcomes to decisions and then to choose the optimal distribution of outcomes. This assumes that the decision maker trusts the model completely. But what should a decision maker do if the model cannot be trusted? Lars Hansen and Thomas Sargent, two leading macroeconomists, push the field forward as they set about answering this question. They adapt robust control techniques and apply them to economics. By using this theory to let decision makers acknowledge misspecification in economic modeling, the authors develop applications to a variety of problems in dynamic macroeconomics. Technical, rigorous, and self-contained, this book will be useful for macroeconomists who seek to improve the robustness of decision-making processes.

Research Tools in Natural Resource and Environmental Economics

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Author : Amitrajeet A. Batabyal
Publisher : World Scientific
ISBN 13 : 9814289221
Total Pages : 475 pages
Book Rating : 4.8/5 (142 download)

Book Synopsis Research Tools in Natural Resource and Environmental Economics by : Amitrajeet A. Batabyal

Download or read book Research Tools in Natural Resource and Environmental Economics written by Amitrajeet A. Batabyal and published by World Scientific. This book was released on 2011 with total page 475 pages. Available in PDF, EPUB and Kindle. Book excerpt: A collection of scholarly accounts and articles written by recognized experts in environmental economics, this book is the first of its kind and as a valuable reference and textual source for graduate students and active researchers. It draws together the pedagogical discussion of the key tools used to conduct theoretical and empirical research in natural resource and environmental economics. With contributions by prominent international researchers like Robert Ayres, Charles Perrings and Anastasios Xepapadeas, the book will be useful for researchers who wish to learn new techniques or change their area of research emphasis within natural resource and environmental economics or those who wish to familiarize themselves with these tools.

Uncertainty Within Economic Models

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Author : Lars Peter Hansen
Publisher : World Scientific
ISBN 13 : 9814578134
Total Pages : 483 pages
Book Rating : 4.8/5 (145 download)

Book Synopsis Uncertainty Within Economic Models by : Lars Peter Hansen

Download or read book Uncertainty Within Economic Models written by Lars Peter Hansen and published by World Scientific. This book was released on 2014-09-09 with total page 483 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written by Lars Peter Hansen (Nobel Laureate in Economics, 2013) and Thomas Sargent (Nobel Laureate in Economics, 2011), Uncertainty within Economic Models includes articles adapting and applying robust control theory to problems in economics and finance. This book extends rational expectations models by including agents who doubt their models and adopt precautionary decisions designed to protect themselves from adverse consequences of model misspecification. This behavior has consequences for what are ordinarily interpreted as market prices of risk, but big parts of which should actually be interpreted as market prices of model uncertainty. The chapters discuss ways of calibrating agents' fears of model misspecification in quantitative contexts.

Natural Resources Dynamics

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Author : Giuseppe Di Vita
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (89 download)

Book Synopsis Natural Resources Dynamics by : Giuseppe Di Vita

Download or read book Natural Resources Dynamics written by Giuseppe Di Vita and published by . This book was released on 2004 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

A Meta-analysis of the Willingness to Pay for Reductions in Pesticide Risk Exposure

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Author : Chiara M. Travisi
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (89 download)

Book Synopsis A Meta-analysis of the Willingness to Pay for Reductions in Pesticide Risk Exposure by : Chiara M. Travisi

Download or read book A Meta-analysis of the Willingness to Pay for Reductions in Pesticide Risk Exposure written by Chiara M. Travisi and published by . This book was released on 2004 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

General Equilibrium Analysis of Climate Change Impacts on Tourism

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Author :
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (89 download)

Book Synopsis General Equilibrium Analysis of Climate Change Impacts on Tourism by :

Download or read book General Equilibrium Analysis of Climate Change Impacts on Tourism written by and published by . This book was released on 2004 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Natural Resources, Innovation, and Growth

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Author : Elissaios Papyrakis
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (89 download)

Book Synopsis Natural Resources, Innovation, and Growth by : Elissaios Papyrakis

Download or read book Natural Resources, Innovation, and Growth written by Elissaios Papyrakis and published by . This book was released on 2004 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Interactions Between Climate and Trade Policies

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Author : Marzio Galeotti
Publisher :
ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (89 download)

Book Synopsis Interactions Between Climate and Trade Policies by : Marzio Galeotti

Download or read book Interactions Between Climate and Trade Policies written by Marzio Galeotti and published by . This book was released on 2004 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Cheap Talk, Gullibility, and Welfare in an Environmental Taxation Game

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Author : Herbert Dawid
Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (89 download)

Book Synopsis Cheap Talk, Gullibility, and Welfare in an Environmental Taxation Game by : Herbert Dawid

Download or read book Cheap Talk, Gullibility, and Welfare in an Environmental Taxation Game written by Herbert Dawid and published by . This book was released on 2004 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

The World Bank's Prototype Carbon Fund and China

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Author : ZhongXiang Zhang
Publisher :
ISBN 13 :
Total Pages : 28 pages
Book Rating : 4.:/5 (89 download)

Book Synopsis The World Bank's Prototype Carbon Fund and China by : ZhongXiang Zhang

Download or read book The World Bank's Prototype Carbon Fund and China written by ZhongXiang Zhang and published by . This book was released on 2004 with total page 28 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Scientific Advice to Public Policy-making

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Author : Valeria Papponetti
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (89 download)

Book Synopsis Scientific Advice to Public Policy-making by : Valeria Papponetti

Download or read book Scientific Advice to Public Policy-making written by Valeria Papponetti and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Advances in Behavioral Finance, Volume II

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Author : Richard H. Thaler
Publisher : Princeton University Press
ISBN 13 : 1400829127
Total Pages : 744 pages
Book Rating : 4.4/5 (8 download)

Book Synopsis Advances in Behavioral Finance, Volume II by : Richard H. Thaler

Download or read book Advances in Behavioral Finance, Volume II written by Richard H. Thaler and published by Princeton University Press. This book was released on 2005-07-05 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book offers a definitive and wide-ranging overview of developments in behavioral finance over the past ten years. In 1993, the first volume provided the standard reference to this new approach in finance--an approach that, as editor Richard Thaler put it, "entertains the possibility that some of the agents in the economy behave less than fully rationally some of the time." Much has changed since then. Not least, the bursting of the Internet bubble and the subsequent market decline further demonstrated that financial markets often fail to behave as they would if trading were truly dominated by the fully rational investors who populate financial theories. Behavioral finance has made an indelible mark on areas from asset pricing to individual investor behavior to corporate finance, and continues to see exciting empirical and theoretical advances. Advances in Behavioral Finance, Volume II constitutes the essential new resource in the field. It presents twenty recent papers by leading specialists that illustrate the abiding power of behavioral finance--of how specific departures from fully rational decision making by individual market agents can provide explanations of otherwise puzzling market phenomena. As with the first volume, it reaches beyond the world of finance to suggest, powerfully, the importance of pursuing behavioral approaches to other areas of economic life. The contributors are Brad M. Barber, Nicholas Barberis, Shlomo Benartzi, John Y. Campbell, Emil M. Dabora, Daniel Kent, François Degeorge, Kenneth A. Froot, J. B. Heaton, David Hirshleifer, Harrison Hong, Ming Huang, Narasimhan Jegadeesh, Josef Lakonishok, Owen A. Lamont, Roni Michaely, Terrance Odean, Jayendu Patel, Tano Santos, Andrei Shleifer, Robert J. Shiller, Jeremy C. Stein, Avanidhar Subrahmanyam, Richard H. Thaler, Sheridan Titman, Robert W. Vishny, Kent L. Womack, and Richard Zeckhauser.

Handbook of the Economics of Finance

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Author : G. Constantinides
Publisher : Elsevier
ISBN 13 : 0080495087
Total Pages : 698 pages
Book Rating : 4.0/5 (84 download)

Book Synopsis Handbook of the Economics of Finance by : G. Constantinides

Download or read book Handbook of the Economics of Finance written by G. Constantinides and published by Elsevier. This book was released on 2003-11-04 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 1B covers the economics of financial markets: the saving and investment decisions; the valuation of equities, derivatives, and fixed income securities; and market microstructure.

Robust Equity Portfolio Management

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Author : Woo Chang Kim
Publisher : John Wiley & Sons
ISBN 13 : 1118797302
Total Pages : 259 pages
Book Rating : 4.1/5 (187 download)

Book Synopsis Robust Equity Portfolio Management by : Woo Chang Kim

Download or read book Robust Equity Portfolio Management written by Woo Chang Kim and published by John Wiley & Sons. This book was released on 2015-11-30 with total page 259 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive portfolio optimization guide, with provided MATLAB code Robust Equity Portfolio Management + Website offers the most comprehensive coverage available in this burgeoning field. Beginning with the fundamentals before moving into advanced techniques, this book provides useful coverage for both beginners and advanced readers. MATLAB code is provided to allow readers of all levels to begin implementing robust models immediately, with detailed explanations and applications in the equity market included to help you grasp the real-world use of each technique. The discussion includes the most up-to-date thinking and cutting-edge methods, including a much-needed alternative to the traditional Markowitz mean-variance model. Unparalleled in depth and breadth, this book is an invaluable reference for all risk managers, portfolio managers, and analysts. Portfolio construction models originating from the standard Markowitz mean-variance model have a high input sensitivity that threatens optimization, spawning a flurry of research into new analytic techniques. This book covers the latest developments along with the basics, to give you a truly comprehensive understanding backed by a robust, practical skill set. Get up to speed on the latest developments in portfolio optimization Implement robust models using provided MATLAB code Learn advanced optimization methods with equity portfolio applications Understand the formulations, performances, and properties of robust portfolios The Markowitz mean-variance model remains the standard framework for portfolio optimization, but the interest in—and need for—an alternative is rapidly increasing. Resolving the sensitivity issue and dramatically reducing portfolio risk is a major focus of today's portfolio manager. Robust Equity Portfolio Management + Website provides a viable alternative framework, and the hard skills to implement any optimization method.

Comparison Between Artisanal Fishery and Manila Clam Harvesting in the Venice Lagoon by Using Ecosystem Indicators

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Author :
Publisher :
ISBN 13 :
Total Pages : 48 pages
Book Rating : 4.:/5 (89 download)

Book Synopsis Comparison Between Artisanal Fishery and Manila Clam Harvesting in the Venice Lagoon by Using Ecosystem Indicators by :

Download or read book Comparison Between Artisanal Fishery and Manila Clam Harvesting in the Venice Lagoon by Using Ecosystem Indicators written by and published by . This book was released on 2004 with total page 48 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Robust Portfolio Optimization and Management

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Author : Frank J. Fabozzi
Publisher : John Wiley & Sons
ISBN 13 : 0470164891
Total Pages : 513 pages
Book Rating : 4.4/5 (71 download)

Book Synopsis Robust Portfolio Optimization and Management by : Frank J. Fabozzi

Download or read book Robust Portfolio Optimization and Management written by Frank J. Fabozzi and published by John Wiley & Sons. This book was released on 2007-04-27 with total page 513 pages. Available in PDF, EPUB and Kindle. Book excerpt: Praise for Robust Portfolio Optimization and Management "In the half century since Harry Markowitz introduced his elegant theory for selecting portfolios, investors and scholars have extended and refined its application to a wide range of real-world problems, culminating in the contents of this masterful book. Fabozzi, Kolm, Pachamanova, and Focardi deserve high praise for producing a technically rigorous yet remarkably accessible guide to the latest advances in portfolio construction." --Mark Kritzman, President and CEO, Windham Capital Management, LLC "The topic of robust optimization (RO) has become 'hot' over the past several years, especially in real-world financial applications. This interest has been sparked, in part, by practitioners who implemented classical portfolio models for asset allocation without considering estimation and model robustness a part of their overall allocation methodology, and experienced poor performance. Anyone interested in these developments ought to own a copy of this book. The authors cover the recent developments of the RO area in an intuitive, easy-to-read manner, provide numerous examples, and discuss practical considerations. I highly recommend this book to finance professionals and students alike." --John M. Mulvey, Professor of Operations Research and Financial Engineering, Princeton University

Asset Pricing and Portfolio Performance

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Author : Robert A. Korajczyk
Publisher :
ISBN 13 :
Total Pages : 424 pages
Book Rating : 4.3/5 (555 download)

Book Synopsis Asset Pricing and Portfolio Performance by : Robert A. Korajczyk

Download or read book Asset Pricing and Portfolio Performance written by Robert A. Korajczyk and published by . This book was released on 1999 with total page 424 pages. Available in PDF, EPUB and Kindle. Book excerpt: A comprehensive reference work presenting an original framework for evaluating observed differences in returns across assets.